CNN's U.S. network had its worst-ever ratings for a second quarter, down 40 percent for some of its prime-time shows. The decline was particularly notable in May, when CNN faced tough competition from broadcast networks during a slow news period and its ratings were compared to a year earlier, in the aftermath of the Osama bin Laden killing.

The problem with CNN, though, isn't CNN or its President. The problem is the news media -- and it's an institutional problem that won't be solved until a new way of thinking emerges that doesn't revolve around the selling of the soul to get Barack Obama reelected while pretending that's not exactly what they're doing.